The present disclosure relates to auctions for financially settled contracts. Financially settled contracts are traded over-the-counter and on various exchanges including, for example, some forward commodities exchanges. Participants trade financially settled contracts outright and may also trade spreads and strips of financially settled contracts. A spread includes a short position in a first contract and a long position in a second contract, equating to a position that settles on a difference in price between the two contracts. A strip includes like positions (e.g., long or short) in two contracts over consecutive settlement periods. Advancements are needed in the trading of financially settled contracts to improve liquidity, volume and other factors.